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. but we have to wait and see happens next week. this congress is unpredictable. >> house defense chairman buck mccann, he wants $20 billion more, because defense gets killed in the sequestration. he has defense hawks that will vote against it if they don't get their $20 billion and that means john boehner doesn't have 218 votes. >> he may not have 218 votes, but look, any accommodation you make like that from -- to assist the defense is going to squeeze the other end of the balloon which is domestic. you are going to need votes in order to pass this. you have to get it through the senate. it is austan goolsbee, the former chief economic adviser to the president called the emerging deal not even a baby deal. he called it an embryonic stem cell sized deal, but we don't know for sure that this congress can get that done. >> i heard that too. and also, john, last up, there's a whole bunch of discussions about revenues going on which makes a lot of republicans unhappy. but co-pay for federal employee pension funds is one of the big sticking points. apparently over ten years worth $130 billion.
kurntd form. my source says the republican votes were just not there for it, especially the defense hawks. second, the democrats' attempt to extend it to extend jobless benefits will fail. my source says the democrats threw that into the talks way to late to get that deal done. and unemployment is coming down anyway. finally, there is apparently by almost all accounts absolutely no one on either side who wants another government shutdown. i think the markets and the public can feel pretty safe on that one. although you can never be 100% sure. so after a series of down-to-the-wire negotiations, could we see a budget deal this time around? hint, hint, yes. but as i said, the sequester is dead, long live the sequester. here now, jared bernstein and representative dave swikert. dave r let me begin with you, is my information correct? there is going to be a deal. there is going to be a vote. there are not enough votes to get 218 in the house. the defense hawks and others will not permit the sequester to go through. is that fair? is that correct? >> that's the information i'm hearing. we're all
there's some room for some cuts in the defense budget. not too much unfortunately. we live in a very shaky neighborhood it's very detailed. in this god is in the details. >> the federal reserve is now saying that this is over and that's causing a great deal of volatility in the markets. how will that impact the israeli market? >> first, foremost, 26, 27% of these exports are to the united states so this is immediate. it's a good thing that we have this separated. i mean, 26% to the united states, 30 something to europe and the rest to the far east and the rest of the world which means we are balancing the way that one area of the world is in trouble or collapsing or the second 2008 is happening, we are better protected against this, but the united states is the biggest sister. whatever happens there influences us. of course, we were following bernanke's policies and we, like the rest of the world, felt he was doing the right things in order to restabilize and bring growth from the american economy. we are benefitting every time the united states economy is doing better. >> when you c
"worldwide exchange." >>> u.s. defense secretary has thrown his support behind the egyptian interim government's roadmap which came into effect with the toppling of mohammed morsi in july. he met with people over the weekend to discuss u.s./egyptian relations following a suspension of u.s. aid to the country a couple of months ago. hadley has been speaking with the egyptian finance minister as well and joins us from dubai. hi, hadley. >> hey, ross. it's interesting because the secretary of defense may have turned his support behind the interim government. that's yet to translate into the re-establishment of aid, for example, nor has it translated into any investment into egypt, at least in the last couple of months. you saw international investors skeptical of investing in egypt during the morsi government. there was a lot of skepticism an uncertainty. you still have that same kind of uncertainty with the interim government as well. where are they looking? they're looking elsewhere. they're looking to russia. lavrov was visiting russia. there were millions of dollars of investment d
australia is a aaa rated currency. so there are defensive sectors affecting the aussie. so the china affect is affecting in terms of trade side of on things. at the same time, you have flows supporting the aussie. so you have over the next few months debt coming into play and some interest in terms of flows into the aussie asset prices. so it may stay up around these levels, about 92, 93, unless we see major policy shifts going forward. >> let's talk about the yen. we're at six-month highs against the dollar. there's now talk that we might get another stimulus package out of japan. reuters is talking about this. what target have you got for dollar/yen? >> for the end of the your, we were initially targeting 105. towards 100, 105 towards the early part of next year. and end of the year, closer to the 105 levels. end of 2014 towards the 110 level. so if the policies of stimulus announcement comes out, i think the levels might start to sort of rise a bit earlier than expected. so essentially, the trajectory for dollar/yen is an upward trajectory. it's the target levels that need to be shifted.
're talking about $90 billion, split evenly between domestic and defense cuts being relieved from the sequester offset by some revenue and entitlement cuts elsewhere. however, there's very little long-term deficit reduction in this deal. we're talking about putting off decisions about raising taxes or cutting medicare and social security. we also have a last-minute hangup over unemployment benefits, the extension of unemployment benefits. democrats want that, republicans say they're not that serious about it, it's not clear whether or not democrats are going to put their foot down and say no deal until then. what i think we know is that there will not be a deal today. house leadership aide told me he expects early next week a deal to be announced by patty murray, the democratic chair of the budget committee in the senate. paul ryan, the republican budget committee chair in the house. then the house and senate pass it before christmas. they leave next week actually for their christmas break. so they would end the year on a positive note. it would dramatically reduce the risk of a g
. republicans and some democrats including chuck hagel at the pentagon who don't like the level of defense spending the way it's squeezed by the budget sequester and it gets squeezed more in 2014 by the sequester proportionately than domestic programs do. that gives some impetus for republicans to go along. democrats are raising the caps by an equal amount on the domestic side of the budget. these are things, priorities the democrats have for social programs, republicans have for defense, which are getting relieved and stitching together solutions to fill in the gaps financially even at a little deficit reduction on top of that, things like raising the fees for airline companies pay for for airport security, that's on the revenue side and on the spending side, curbing federal retirement which some lawmakers don't like but it's a way to get some money. >> jon, thanks for the update. appreciate it very much. john harwood. ty, up to you. >> herbal life may be turning the tables on the hedge fund titan bill ackman. plus, this brings new meaning to the term ski out. how the middle class are get
cyclical groups, the telecomes, health care, defensive groups. we're up right across the board, folks. it's been a very strong rally right at the open but not strong inform a mr. one guy said it threads the needle perfectly. people putting together a list of what the skmik news looks like this week. here's a look for the bulls, gdp numbers very strong overall. auto sales, over 16 million, the highest in six years here. october home sales were the highest since june 2008. highest in manufacturing, highest in two and a half years and cyber sales were up 20% on monday. >> we talked about the lower, disappointing numbers this week. earlier home sales reports were disappointing. retail reports have been generally disappointing this week. it's not unequivocal. if you throw in a budget deal, you can make the argument that the more defensive names have been the lagard group so far on the month. the market is suggesting there is that this rily is so strong at the hope that there's not a lot of ep side room right now. and you trickle down throughout the day and end up only 20 points. i'm not saying
cyclical sectors, the ones that are down. what's up, more defensive names. these are underperformed throughout the year. a little bit of rotation but not dramatically so. one thing you see on a day like today high beta names move down more. if the dow is down 1% and have a beta of two, they're usually down 2%. that's what happens. the market is behaving in a predictable manner here. those high bidding names are down a little more. >> yesterday blaming it on interest rates. >> can't do that today. >> not today. you can't. we're going to get to that in a minute. gold market had a tough session yesterday. today things are considerably quieter as we go into the close. as a matter of fact, comex gold is only down 120 on the stragds six. a double d-double digit loss yesterday. the markets have steadied out partly because of the drop in the equities market. talk about interest rates, shall we, with the bond market report and rick santelli tracking the action at the cme. and all eyes were focused on europe this morning, now they're focused here on equities. how about the interest rate scena
and did not. for example, defensive stocks leading. banks and auto weak. the challenge for professional asset allocators is not to read too much into that. not too make too much into one day's action. >> dan we're going back and forth about this earlier, but is there a first day of the month gauge, in other words, the fact we were down yesterday, the fact we're down today, does that tell you something here? >> no. i think there's a lot of statistical incision here alal insignificant. >> if you look back september 2012 first two days of the month were down and the rest of the month was up 2.4%. there's no correlation there. i expect whatever happens in december has no bearing on these first -- it's not related -- >> if it's not about, you know the timing in terms of the month, if it's not -- if we shouldn't read too much into the last couple of trading sessions, where should we look right now for guidance? >> look at what happened today? one, europe down. very hard in the morning. actually going into the close. we found out the reason for that. that was because the ft p
? >> president obama is trying to get out of the defensive crouch he's been with the struggles over the website. now that the administration believes it has turned around that website, it's trying to go on offense and stalk about his economic agenda for narrowing income inequality. part of that is health care itself. part of that is investments and infrastructure and education. part of it, as the president said in the speech today at center for american progress, is a raise in the minimum wage. >> last month voters in new jersey decided to be the 20th state to raise theirs even hi high higher. that's why the d.c. council decided to do it, too. i agree with those voters. i'm going to keep pushing until we get a higher minimum wage for hard working americans across the entire country. >> note, president obama invoked new jersey, the state of governor chris christie, who may be a republican candidate for president in 2016. this is a difficult goal to accomplish because many republicans, even though the president disputes this argument, make the ar umeguments is going to
been used to get this information, they're unhappy about it, looking for change. >> the defense, though, during the beginning of the nsa surveillance leak back in june, we started hearing the beginning of this, you could actually thwart certain attacks by connecting some people and their communications and the best defense i heard you can't find a needle in a haystack without a haystack but what can you find when looking at someone's gaming you're trying to connect a bunch of different data points you, might find something interesting. if you're able to connect this gamer who is having a conversation with that gamer, maybe what they're talking about isn't the game because these games have communications capables. a lot of time people have been using back channels like that talking about something they don't want eavesdropped upon. the broader issue for business, american companies are concerned that the world won't trust them and they're looking for growth in emerging markets. when any large american company now has this suspicion cast upon them because of what the u.s. government is do
plus up some defense, i know people are highly concerned about readiness in our military. and you've got to do a little giving from that standpoint. you need some real structure reform to the long-term mandatory spending programs in order for that deal to work. >> it puts it out past the 2014 election. >> that's they're talking. let's hope nobody throws a poison pill in there. >> at this point, you're from wisconsin. i see wisconsin at best a middle of the road state. i think you kind of lean left. >> i'll call it a common sense state. the government ought to live within its means. >> really? >> i think so, yeah. >> but you do, i think of it as kind of a -- isn't madison, wisconsin? >> well, it has its pockets of interesting individuals, sure. >> but from what you can tell. from what you're hearing, how is '14 going to go? at this point, if obama care continues to -- to go along the path it's going, what are -- what will 2014 look like? what will the make-up look like in the house? in the senate? >> well, again, because of the disaster of the implementation of the health care law,
posting gains. a slightly defensive tone to the market. while we have microsoft up, the doj did approve microsoft's plan acquisition of nokia's devices and services business. now it's awaiting approval from the european union. in terms of what's leading the tech index lower it's been another tough day for social media stocks. goldman stocks downgrading groupon. we're seeing high volatility in what the market likes to call momentum player. we'll keep an eye out on those names as money managers enter a period of window dressing that takes place the last couple of weeks of the year to continue to watch those stocks. >> seema thanks. a goldman downgrade on names so social media is a place to watch. >> decline of 78 points, holding steady, with 12 minutes left in the trading. wow. the time is -- it's letter than it's ever been. >> it just flies. >> it does. there are hot deals abound today, that's why bill is -- that's how bill has been spending his time. >> you noticed that. >> does cyber monday have enough heat to make our hot list? tdd# 1-800-345-2550 sea
signed by the china technology could undermine washington defense ties with seoul senators feinstein and menende znchts a letter from the senator expressing concerns about the selection to build a broad band net work for a unit of south carolina lg. washington has long objected expanding businesses in the u.s. this is an unusual example of u.s. politicians making an issue of the chinese companies investment offer shore. >>> wal-mart is reportedly paying lawyers more than 30 executives in the investigation. this is an unusually high number and shows the depth of the federal probe. the doj is investigating whether wal-mart paid bribes to obtain permits to open stores there. the government is also looking into possible misconduct by the retailer in brazil, china and india. the stock market has been pulling back from record levels this week with dow closing below the 16,000 level yesterday. it has people asking if the taper is returning and how important this morning's adp job report may be. joining us, bank investment manager in boston, and quantitative manager associates, ed. you think
for both domestic and defense programs, not likely to touch the hot buttons of tax increases or medicare and social security, more mundane revenue raisers, things like selling federal assets and aviation fees and on the entitlement side, hitting federal retirement but not medicare and social security. so that would be under wheming, but i know there's a lot of trader interest in that. it does appear they're going to reach that deal and it makes it much less likely we have a showdown in january that could result in another shutdown. >> that is good news, i guess you could argue for the market. the other thing, too, john, is to what degree the president continues this campaign of reselling the affordable care act, something that sounds like he's going to make it a daily occurrence from here on out. >> what he's got to do -- this is the most important program of his presidency -- is persuade people, despite all they've heard about the problems with the web site, other objections being raised by critics about privacy, about the difficulty of getting plans that they can afford after having a
Search Results 0 to 15 of about 16